Percent changes calculated using year-over-year comparisons. New Listings were up 18.5 percent for single family homes and 122.2 percent for townhouse-condo properties. Pending Sales landed at 158 for single family homes and 271 for townhouse-condo properties. The Median Sales Price was up 19.4 percent to $752,500 for single family homes and 4.0 percent to $456,663 for townhouse-condo properties. Days on Market increased 1.2 percent for single family homes and 3.8 percent for townhouse-condo properties. Stock markets experienced an October setback, but that does not necessarily translate to a decline in the real estate market. The national unemployment rate has been below 4.0 percent for three straight months and during five of the last six months. This is exceptional news for industries related t o real estate. Meanwhile, homebuilder confidence remains positive, homeownership rates have increased in the ke y under-35 buyer group and prices, though still rising, have widely reduced the march toward record highs.
For a complete report regarding October monthly indicators CLICK HERE.
January 2018 Indicators
February 2018 Indicators
March 2018 Indicators
April 2018 Indicators
May 2018 Indicators
June 2018 Indicators
July 2018 Indicators
August 2018 Indicators
September 2018 Indicators
Current Months Supply of Inventory Outlook Strong!
A measure of how balanced the market is between buyers and sellers. It is expressed as the number of months it would hypothetically take to sell through all the available homes for sale, given current levels of home sales. A balanced market ranges from 4 to 7 months of supply. A buyer's market has a higher number, reflecting fewer buyers relative to homes for sale. A seller's market has a lower number, reflecting more buyers relative to homes for sale.
Currently, Summit County as a whole has roughly 6.7 months of inventory, putting it in the "Balanced Market" category. With another predicted dip in inventory, it will most likely still continue to remain balanced.